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Adicet nets funding, acquires AIT
March 2016
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MENLO PARK, Calif.—Adicet Bio Inc. recently closed a $51-million Series A financing led by OrbiMed, with Novartis Venture Fund and Pontifax also participating. The company has also expanded with the acquisition of Applied Immune Technologies Ltd. (AIT), a company developing immunotherapies directed at the intracellular proteome. AIT is developing T cell receptor-like antibodies with high affinity and specificity to disease-specific intracellular peptides presented on the cell surface by the major histocompatibility complex, and it will continue operations in Israel following the acquisition as Adicet’s wholly owned subsidiary.
 
“These significant financial resources will allow Adicet to progress its universal immune cell therapy platform technology and related products and advance AIT’s programs and product pipeline,” said Dr. Aya Jakobovits, Adicet’s founder, president and CEO. “AIT’s technologies, capabilities and intellectual property highly complement those of Adicet and position the combined company to become a leader in next-generation immunotherapy products for cancer and other indications.”
 
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